Karachi: The impact of the IMF’s approval for a $7 billion loan is beginning to show on the Pakistani economy, as the Saudi Riyal experiences a further decrease in value.
Today, during trading in the open market, the price of the Saudi Riyal fell by 7 paisas, leading to a buying rate of 73.78 PKR and a selling rate of 74.33 PKR. This follows a previous drop of 23 paisas yesterday, where the Riyal was bought at 73.85 PKR and sold at 74.40 PKR.
In terms of bulk transactions, 1,000 Saudi Riyals are now approximately equivalent to 73,780 PKR.
It’s important to note that over 2.7 million Pakistanis are employed in Saudi Arabia, making the exchange rate of the Saudi Riyal a significant concern for consumers and the economy alike.
Saudi Riyal Sees Further Decline Amid IMF Loan Approval
